Egalet Corp. (EGLT) Shares Up 3.8%
Egalet Corp. (NASDAQ:EGLT) shares shot up 3.8% during mid-day trading on Monday . The stock traded as high as $8.38 and last traded at $8.27, with a volume of 84,356 shares traded. The stock had previously closed at $7.97.
Several research firms have issued reports on EGLT. Cantor Fitzgerald set a $21.00 price objective on Egalet Corp. and gave the stock a “buy” rating in a report on Saturday, August 6th. Zacks Investment Research downgraded Egalet Corp. from a “hold” rating to a “sell” rating in a report on Thursday, May 12th.
The firm’s market capitalization is $220.22 million. The company’s 50 day moving average is $7.07 and its 200 day moving average is $6.55.
Egalet Corp. (NASDAQ:EGLT) last announced its earnings results on Thursday, August 4th. The specialty pharmaceutical company reported ($0.97) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.82) by $0.15. The firm had revenue of $3.45 million for the quarter, compared to the consensus estimate of $3.83 million. During the same quarter in the previous year, the company earned ($1.03) earnings per share. The company’s revenue for the quarter was up 259.4% on a year-over-year basis. On average, equities analysts forecast that Egalet Corp. will post ($3.47) earnings per share for the current fiscal year.
In related news, CEO Robert S. Radie sold 15,000 shares of Egalet Corp. stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $5.01, for a total value of $75,150.00. Following the transaction, the chief executive officer now directly owns 259,900 shares of the company’s stock, valued at $1,302,099. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stan Musial sold 13,480 shares of Egalet Corp. stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $5.06, for a total transaction of $68,208.80. Following the completion of the transaction, the chief financial officer now directly owns 84,940 shares in the company, valued at $429,796.40. The disclosure for this sale can be found here.
Egalet Corporation is a specialty pharmaceutical company. The Company is engaged in developing, manufacturing and commercializing treatments for pain and other conditions. The Company’s products include OXAYDO and SPRIX Nasal Spray. The Company is developing two late-stage product candidates, ARYMO ER and Egalet-002 using Guardian Technology.
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